Commitment; Survey Clause Samples
The 'Commitment; Survey' clause establishes the obligation of a party, typically the buyer or lender, to conduct a survey of the property as part of the transaction process. This clause outlines the timing, scope, and standards for the survey, such as requiring a certified land surveyor to verify property boundaries, easements, and encroachments. By mandating a formal survey, the clause helps ensure that all parties have accurate information about the property's physical characteristics, thereby reducing the risk of disputes over boundaries or title issues.
Commitment; Survey. Seller has caused to be delivered to Purchaser prior to the Effective Date (i) a commitment for an Owner Policy of Title Insurance for each of the Apartment Property and the Vacant Property, with copies of all instruments identified therein as affecting such Property and recited as exceptions (collectively, the “Commitment”) and (ii) copies of the most recent surveys of the Apartment Property and the Vacant Property in Seller's possession. In addition, Purchaser, at its cost, has obtained and delivered to Seller a new survey (“Survey”) of the Property made on the ground by a registered professional land surveyor that conforms to the requirements of an ALTA/ACSM minimum standard detail survey.
Commitment; Survey. Seller will use reasonable diligence to cause to be delivered to Purchaser within five (5) Business Days after the Effective Date (i) a Preliminary Title Report with copies of all recorded instruments affecting the Property and recited as exceptions in the Preliminary Title Report (collectively, the “Commitment”) and (ii) a copy of the most recent survey of the Property in Seller’s possession (the “Survey”). If Purchaser, Purchaser’s lender, or the Title Company requires a new survey for any reason, then Purchaser, at Purchaser’s cost and within thirty (30) days after the Effective Date, shall obtain a new survey (“New Survey”) of the Property made on the ground by a registered professional land surveyor that conforms to the requirements of an ALTA/ACSM minimum standard detail survey and shall provide a copy of the New Survey to Seller.
Commitment; Survey. Prior to the Effective Date, Seller delivered or made available to Purchaser (i) a Preliminary Title Report issued by the Title Company with copies of all recorded instruments affecting the Property and recited as exceptions in the Preliminary Title Report (collectively, the “Commitment”) and (ii) a copy of the most recent survey of the Property in Seller's possession (the “Survey”). If Purchaser, Purchaser's lender, or the Title Company requires a new survey for any reason, then, prior to the expiration of the Inspection Period, Purchaser, at Purchaser's cost shall obtain a new survey (“New Survey”) of the Property made on the ground by a registered professional land surveyor that conforms to the requirements of an ALTA/ACSM minimum standard detail survey and shall provide a copy of the New Survey to Seller. LEGAL02/39345998v7
Commitment; Survey. Prior to the Effective Date, Seller has caused to be delivered to Purchaser (i) commitments for ALTA 2006 owner’s policies of title insurance with copies of all recorded instruments affecting the Shopping Centers and recited as exceptions in such commitments (collectively, the “Commitment”) and (ii) a copy of the most recent surveys of each of the Shopping Centers in Seller's possession (collectively, the “Survey”). Purchaser, at Purchaser's cost, has obtained a new survey (each, a “New Survey” and collectively, the “New Surveys”) of the applicable Shopping Center made on the ground by a registered professional land surveyor that conforms to the requirements of an ALTA/ACSM minimum standard detail survey and shall provide a copy of the New Survey to Seller.
Commitment; Survey